VTuber Stock Watch List

This page was set up April 1, 2023 and is being updated sporadically.

Find out how we monitor key players and supporting investors in Japan's VTuber scene.

Point of View

We believe that VTubers build the next generation of content worldwide, and the number of people participating in these activities are expected to grow over time, therefore giving opportunities for artists, modelers and talents alike to cultivate their communities, sharpen their skills and eventually grow their own businesses.

Our point of view when we first set up this page is based on the fact that industries are investing into VTuber technology, industry and culture—including the inclusion of major agencies ANYCOLOR Inc. (NIJISANJI) and COVER Corp. (hololive) into the Tokyo Stock Exchange, as well as the investment of industrial companies such as Daigas Group into Brave Group (PDF), among others.

More VTuber fans are now looking into the developments of the key players in the Japanese stock market, something that was bound to happen eventually once these companies opened themselves to the investing public. However, there's more to than just covering the key players, as there are other publicly-listed entities which ventured into VTubing.

We are introducing you not just to the key players but also the other entities which have dipped its toes into this next frontier of entertainment.

Components of the VTuber Stock Watch

Securities traded in the Tokyo Stock Exchange are monitored for their growth. We categorize each these listed companies according to the following:

  • Key Players: Companies with offices in Japan which solely operate VTuber agencies. You can also copy our watchlist to your TradingView account.
    • Primaries include Key Players which has VTubing (production and intellectual property development) as its core business.
      • Occasionally, we post a chart matching the Primaries side-by-side with the NIKKEI 225 as well as the TOPIX. This is the basis for our reportage.
    • Secondaries include any publicly-listed businesses known to have other core businesses aside from VTubing.
Know more about the Japanese publicly listed companies which are venturing into VTubing: https://vtubernewsdrop.com/stocks/
  • (Supporting) Investors: Companies with offices in Japan which do not operate VTuber agencies but have invested in any of the key players (through shares, underwriting, and any other form of contact as listed in the key players' cover letters).
  • Others: Select companies from Japan and overseas.

Key Players


ANYCOLOR Inc. (Securities Code: 5032)

  • Managing company of VTuber projects Nijisanji and Nijisanji EN; as well as VirtuaReal, a joint venture between ANYCOLOR and Bilibili (China). It is currently managing 224 talents, the biggest among all key players.

Cover Corporation (Securities Code: 5253)

  • Cover is the newest company to be listed in the Japanese stock market which debuted on March 27, 2023. The company and its anticipated stock listing led to the idea of setting up VTuber NewsDrop's Stock Watch.
  • Established as a tech company in 2016, it debuted Tokino Sora in 2017, giving birth to what is now known as Hololive Production, an agency managing 75 active VTuber talents under Hololive and Holostars brands.


AnyMind Group (Securities Code: 5027)

  • End-to-end commerce enablement company founded in Singapore with headquarters in Tokyo, serving 13 markets globally.
  • Anymind enterted the Tokyo Stock Exchange Growth Market on March 29, 2023.
  • Its subsidiary GROVE announced its first VTuber project, Terametaru Gakuen on May 13, 2023.

Avex, Inc. (Securities Code: 7860)

  • Its subsidiary Virtual Avex Inc. is home to Virtual Artist Production AVALON, composed of MaRiNaSu and LiLYPSE.
  • Former Morning Musume member, singer and lyricist Maki Goto—who is signed to Avex—debuted her VTuber self to celebrate her 25th anniversary in the industry.

Bandai Namco Entertainment (Securities Code: 7832)

  • The company behind mixed-media projects The iDOLM@STER and Love Live! School idol project series is also home to a system called Play by Live (プレイBYライブ), a decision-making AI.
  • Under Bandai Namco's The iDOLM@STER division is PROJECT IM@S vα-liv which consist of three talents.
  • An experimental project which uses this system is the Go Round Game YouTube channel featuring three characters and is followed by around 4,000 subscribers.
  • Another subsidiary, Bandai Namco Music Live, was home to the GOOM Studio creative label which managed pioneering VTuber Mirai Akari from September 2020 until her graduation in March 2023. The label has stopped operations following Akari's graduation.
    • MEWLIVE is an agency under Bandai Namco Live "with the goal of creating a world where performers can freely express themselves beyond the boundaries of real and virtual." [Press Release]

Bushiroad Inc. (Securities Code: 7803)

  • Bushiroad is home to collectible card games Cardfight!! Vanguard and Weiß Schwarz; as well as mixed-media franchises BanG Dream!, Shojo Kageki Revue Starlight, D4DJ and Tantei Opera Milky Holmes.
  • Known by many as a trading card game company, Bushiroad expanded into Japanese wrestling by first acquiring New Japan Pro Wrestling (2012) and then World Wonder Ring Stardom (2019).
  • Its subsidiary Bushiroad Creative has announced the establishment of a VTuber agency called Irodori Entertainment Post, composed of virtual actors Misono Yui, Fukumaku Yuka, and Fuyumori Shizuku, in December 2020.
  • Irodori Entertainment Post as a name is no longer being used, and its website directs to Bushiroad Creative, which is in charge of merchandising. Even so, two of its virtual actors—Yui and Yuka—are still active in streaming as independent creators.

GEO Holdings (Securities Code: 2681)

  • A diversified holding company operating businesses in Reuse, Off-Price Retailing, Mobile, Media, Online & Global segments.
  • Started as a video rental shop in 1986, GEO Group first listed on the then-JASDAQ, it is currently listed on the Prime Market of the TSE.
  • Its subsidiary viviON is home to Aogiri High School, managing the agency after being transferred through a partnership with Brave group.

Gree, Inc. (Securities Code: 3632)

  • Gree, Inc. operates its social networking service which launched in February 2004. It has investments in gaming (Wright Flyer Studios, Pokelabo) and anime.
  • Gree has business interests in VTubing—REALITY Studios was established in 2018 and is in charge of smartphone application Reality.
  • REALITY Studios also manage VTuber rappers KMNZ and VESPERBELL (under RK Music), as well as First Stage Production and Specialite.
  • Part of its Investment and Incubation division is STRIVE, a venture capital which has provided funding for COVER Corporation; as well as US-based GFR Fund which lists VRChat and VShojo as part of its investment portfolio.

Kadokawa Corporation (Securities Code: 9468)

  • A powerful media empire with businesses in publication, films, anime, games, as well as user-generated content among other fields.
  • Several Kadokawa Group divisions manage VTubers and/or VTuber projects:
    • Talent management company GeexPlus manages VTuber OniGiri, one of the pioneering VTubers who cook on stream.
    • Under Kadokawa Game Linkage (Famitsu, Game Dengeki) is VTuber proejct Lethal Plan consisting of three talents who have a common goal of spreading the word about the appeal of fighting games.
    • VTuber Legend: How I Went Viral after Forgetting to Turn Off My Stream is published by Kadokawa - first as a light novel, which is then adapted into a TV anime series to air Summer 2024.

Mobcast Holdings (Securities Code: 3664)

  • Mobcast's subsidiaries cater to the creation and production of intellectual properties (IP) for social games, lifestyle suggestions centered on cooking recipes, IP acquisition and expansion.
  • One of its subsidiaries, X-VERSE (formerly Mobcast Games), handles the MTProject in collaboration with TOM's Racing, which aims to increase the number of motorsports fans through the introduction of virtual race queens—Todoroki sisters Rin, Sachi and Non.

Rentracks Co., Ltd. (Securities Code: 6045)

  • Rentracks is a web consulting, affiliate service and internet media business which operates several branch offices in the Asian region.
  • In April 2019, Rentracks has disclosed its investment (PDF) of 30.024 million yen to PT. Citra Wahana Teknologi (ShintaVR).
  • Prior to Rentracks' investment, ShintaVR is behind one of the country's earliest VTubers, Maya Putri.
  • In October 2019, ShintaVR and Rentracks' Indonesian branch PT Rentracks Creative Works established the VTuber agency MAHA5.
  • In April 2021, MAHA5 branched to Japan.

Sony Group Corporation (Security Code: 6758)

  • Multinational conglomerate Sony started as an electronics company after World War II and went on as a pioneer in the media industry in the 70s and 80s with the development of the Compact Disc (CD).
  • Its subsidiary Sony Music Entertainment (Japan) was established in March 1968 pursuant as CBS Sony Records, pursuant to the joint venture agreement between Columbia Broadcasting System, Inc. and Sony Corporation.
  • Sony Music Entertainment (Japan) is home to VEE (veepigenesis), VERSEⁿ and the Virtual Cinderella Project (NHOT BOT). In May 2022, the company stepped in to manage and produce PRISM Project until its closure in April 2024.

Square Enix Co., Ltd. (Securities Code: 9684)

  • Square Enix is a company formed by a merger of video game companies Square (est. 1986) and Enix (est. 1975). It is also home to Gangan Comics (est. 1991), known for having published titles such as Soul Eater, Fullmetal Alchemist and Black Butler.
  • The company collaborates with talent agency Dear Stage (Denpagumi.inc) to produce Gems Company, home to 9 active virtual talents.

UUUM Co., Ltd. (Securities Code: 3990)

  • UUUM (pronounced Umu, just like how Nero Claudius says it) was established in 2013 by popular Japanese YouTuber Hikakin and Kazuki Kamada. It is managing more than 200 talents and has a network of over 14,000 YouTube channels.
  • The company currently manages YouTube channels such as Hito x Mina (Hitori and Mizumo) and Inuneko who use 2D or 3D VTuber models.

Supporting Investors

  • Akatsuki Inc (3932)
  • Credit Saison Co., Ltd. (8253)
  • Dentsu Group Inc (4324)
  • Hakuhodo DY Holdings Inc (2433)
  • Itochu Corp (8001)
  • Matsui Securities Co Ltd (8628)
  • Mitsubishi UFJ Financial Group Inc (8306)
  • Mizuho Financial Group Inc (8411)
  • Monex Group Inc (8698)
  • Nomura Holdings Inc (8604)
  • Osaka Gas Co Ltd (9532)
  • Rakuten Group Inc (4755)
  • SBI Holdings Inc (8473)
  • Septeni Holdings Co Ltd (4293)
  • Sumitomo Mitsui Financial Group Inc (8316)
  • Sumitomo Mitsui Trust Holdings Inc (8309)


  • Alphabet Inc Class A (NASDAQ:GOOGL)
  • Alphabet Inc Class C (NASDAQ:GOOG)
  • Amazon.com, Inc. (NASDAQ:AMZN)
  • Bilibili Inc (HKG:9626)
  • Capital A Berhad (KLSE:CAPITALA)
  • Micro-Star International Co Ltd (TPE:2377)
  • Netflix Inc (NASDAQ:NFLX)
  • Rohto Pharmaceutical Co Ltd (TYO:4527)
  • Sega Sammy Holdings Inc (TYO:6460)
  • Suntory Beverage & Food Ltd (TYO:2587)
  • User Local Inc (TYO:3984)


  • While this page was produced with best efforts, there is no guarantee that there will be no errors or omissions after this page has been published. We ask each investor to exercise due diligence before investing in a securities.
  • All information in this page do not constitute financial advice. Please talk to a trusted wealth manager before deciding on investing in the stock market. Please follow the rules in investing and make sure to prioritize your financial, physical and mental well-being first.
  • Please invest only with your spare cash. The stock market is volatile, and money invested in securities can appreciate or depreciate over time. We ask you to invest wisely.

Updated April 13, 2024